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BUZZ-Delta: Slips as loss widens; warns recovery 2 years away

14 Jul 2020 / 20:14 H.

    ** Shares of Delta Air Lines fall ~1.2% to $26.5 in premarket trade, after co reports wider than expected qtrly loss

    ** Co warns it will be more than two years before the industry sees a sustainable recovery in demand

    ** Delta reported net loss of $5.72 billion, or $9.01 per share, compared with net income of $1.44 billion, or $2.21 per share a year ago

    ** Co reported qtrly revenue of $1.47 billion, down from $12.54 billion a year ago

    ** Airline ended qtr with $15.7 billion in liquidity and said it slowed its daily cash burn to about $27 million in June and sees a similar rate in July

    ** Delta may continue blocking middle seats beyond Sept but warned it cannot make money filling only 60% of the plane (Reporting by Rachit Vats)

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